Analysts Set Acushnet (NYSE:GOLF) Target Price at $89.57

Shares of Acushnet (NYSE:GOLF) have earned an average recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $89.5714.

A number of research firms have issued reports on GOLF. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “hold (c+)” rating in a research report on Thursday, March 5th. Zacks Research downgraded Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Truist Financial lifted their price objective on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Morgan Stanley boosted their price objective on Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. Finally, UBS Group set a $100.00 price objective on shares of Acushnet in a report on Thursday, February 26th.

Insider Buying and Selling

In related news, Director Gregory A. Hewett sold 4,206 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total value of $420,600.00. Following the completion of the transaction, the director directly owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. This trade represents a 10.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 53.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

A number of hedge funds and other institutional investors have recently bought and sold shares of GOLF. Burney Co. bought a new stake in shares of Acushnet during the 3rd quarter valued at $2,932,000. Fisher Asset Management LLC boosted its stake in Acushnet by 35.1% in the 2nd quarter. Fisher Asset Management LLC now owns 208,357 shares of the company’s stock worth $15,173,000 after purchasing an additional 54,088 shares during the period. Tributary Capital Management LLC grew its holdings in Acushnet by 92.6% during the 3rd quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock valued at $35,908,000 after buying an additional 219,895 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Acushnet by 19.2% during the third quarter. Public Sector Pension Investment Board now owns 107,493 shares of the company’s stock valued at $8,437,000 after buying an additional 17,319 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Acushnet in the second quarter worth about $1,966,000. Institutional investors own 53.12% of the company’s stock.

Acushnet Stock Down 2.5%

GOLF opened at $92.91 on Tuesday. Acushnet has a twelve month low of $55.31 and a twelve month high of $104.81. The company’s 50-day moving average price is $95.74 and its two-hundred day moving average price is $85.30. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 29.97 and a beta of 0.88. The company has a quick ratio of 0.97, a current ratio of 2.38 and a debt-to-equity ratio of 1.18.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.31). Acushnet had a return on equity of 25.49% and a net margin of 7.37%.The company had revenue of $477.22 million for the quarter, compared to analysts’ expectations of $453.59 million. During the same quarter in the previous year, the business earned ($0.02) EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, March 6th. This is an increase from Acushnet’s previous quarterly dividend of $0.24. Acushnet’s dividend payout ratio is currently 32.90%.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.